Price raise is commensurate with dram devaluation, Committee Chairman claims

Artak Shaboyan
Artak Shaboyan

Photo: Photolure

Yerevan/Mediamax/. Chairman of the State Commission for the Protection of Economic Competition of Armenia Artak Shaboyan said today that the price raise in Armenia is commensurate with the currency change. He said this at the governmental session.

“To conduct a research, we chose the markets where the major companies are operating. Then we selected social goods - sugar, butter, oil, chicken, eggs, coffee, flour etc.

The research was carried out from early November through December 10 when AMD devaluated against USD by around 13% - from AMD 411 to AMD 463. The currency change directly affected the prices for the imported items which started going up from November 20. Then, local production markets also registered price increases, and the Commission particularly focuses on dairy products”, said Artak Shaboyan.

He noted that the changes in prices for the considered goods fluctuate within 2-12, 13%, while dram devaluation made 13%. “We can say that the price changes are commensurate with the currency changes and they do not surpass the upper threshold of currency changes”, said Artak Shaboyan.


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